Tag Archives: in

India signals possible deficit revisions in upcoming budget

India should review its mid-term fiscal strategy, a government report urged on Friday, in a possible indication that Finance Minister Arun Jaitley may have to borrow more to raise pay for government employees and bail out banks. The report called India “a haven of stability” in a gloomy international landscape but, as Group of 20 finance ministers gathered for talks ... Read More »

Top lobbying group in historic green energy U-turn

Energy UK, which represents big six providers, says it now supports phasing out coal-fired stations, after years of defending use of fossil fuels Wind turbines at WE Niederaussem coal-fired power station in Germany. The UK has been urged to create its own version of Germany’s energy transition programme. Photograph: Volker Hartmann/Getty Images The UK’s biggest energy lobbying group has shifted ... Read More »

Invest in welfare, undertake reforms, says Economic Survey

The government will meet its fiscal deficit target of 3.9 per cent of GDP. Shunning last year’s “over-optimism”, Economic Survey 2015-16 projects that the real GDP growth for the current financial year and for 2016-17 will be in the range of 7-7.75 per cent. The Central Statistics Office estimates that growth this year will be 7.6 per cent, lower than ... Read More »

No hike in rail fares; increase in quota for senior citizens,women

Railway Minister announces a capital plan of Rs. 1,21,000 crore for 2016-17; claims action initiated on 139 budget announcements made last year. The Union Railway Budget 2016-17 focused on capacity creation in the rail sector, with an increased outlay of about Rs. 1.21 lakh crore, and on completion of the ongoing projects rather than announcing new ones. Extending 2015’s measure, ... Read More »

Union troubles at Honda Motorcycles plant in Tapukara

Labour activists point to parallels between the workers’ mobilisation in Maruti’s Manesar plant in 2012 and the upheaval at Honda’s plant. On February 19, about 3,000 workers gathered at Gurgaon’s Tau Devilal Stadium to protest against the police violence unleashed on the striking workmen of Honda Motorcycles and Scooters India’s (HMSI) on February 16. They marched from the stadium to ... Read More »

Infuse more capital in PSBs to avoid rating pressure: Moody’s

Moody’s Ratings Services on Wednesday cautioned that public sector banks (PSBs) could see negative pressure on their credit profiles if the upcoming budget does not front load capital infusion in them. “With the front-ending of recognition and provisioning (for non performing loans), there is a corresponding front-ending of capital requirements. With little chance of the banks accessing the capital markets ... Read More »

NPA in 1983, defaulter in 2010!

Wilful defaulters may be the flavour of the season but they’ve been around for more than three decades, reports Shakti Patra in Mumbai. Wilful defaulters may be the flavour of the season but they’ve been around for more than three decades, reports Shakti Patra in Mumbai. Bank of Baroda, for instance, has an account that was recognised as a non-performing ... Read More »

RBI allows foreign investors to buy up to 49% in Ponni Sugars

Reserve Bank has allowed foreign investors to invest up to 49 percent of the paid-up capital in Ponni Sugars (Erode) Ltd. Foreign Institutional Investors/Registered Foreign Portfolios Investors/Qualified Foreign Investors/Non Residential Indians)/Person of Indian Origin can now invest up to 49 per cent of the paid up capital of Ponni Sugars Erode Limited under the Portfolio Investment Scheme (PIS). RBI said ... Read More »